American firm Tyson Foods announced Tuesday that its chief operating officer Donnie King was named as its new CEO as its current president and CEO Dean Banks prepares to depart the company and board for personal reasons. The role becomes effective immediately.
“The board and I know Donnie has a deep understanding of our business, values, and culture and the solid leadership skills needed to implement our strategy and deliver strong results,” John H. Tyson, chairman of the company’s board, said in a release. “We want to express our appreciation to Dean for his contributions as a board member and executive.”
King brings more than three decades of protein industry experience to the position. During his tenure at Tyson, he has occupied a number of executive leadership positions in poultry, beef, pork, prepared foods, and international. The executive has also provided oversight of food safety and quality assurance, health and safety, continuous improvement, supply chain, and other important areas.
“I’m humbled and excited about leading Tyson Foods, a company that feeds millions of people and means so much to me personally,” said King in a statement. “I believe we need to be sharply focused on operating with excellence, executing our strategies, and continuing to innovate across our businesses throughout the world. With our strong leadership team, we are committed to winning with our customers and delivering an outstanding team member experience.”
Banks said he plans to leave the company to focus on his family.